What banks can’t see can hurt security. Lack of visibility into the type of tools being used and how they interconnect can create significant security shortfalls that firms can’t afford — especially when it comes to the increasing use of digital consumer data and its corresponding compliance requirements.
Silos remain the biggest barrier to security insight. Despite recent efforts to remove them, the security posture at many banks is still driven by departmental differentiation — since frontline service, credit processing and investment management teams have disparate risk thresholds, for example, separation of security remains common. And while this may address individual issues, it presents a potential problem at the edge: What happens to data in the gaps between these departments?
As a result, getting the big picture starts with a high-level view of the current security environment. By taking stock of how solutions are deployed, what they’re protecting and where they interact, it’s possible for firms to pinpoint obvious gaps and lay the groundwork for a consistent financial security strategy.
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